Equities analysts forecast that Ardmore Shipping (NYSE:ASC) will post sales of $31.90 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Ardmore Shipping’s earnings, with the lowest sales estimate coming in at $30.86 million and the highest estimate coming in at $33.60 million. Ardmore Shipping posted sales of $49.67 million during the same quarter last year, which would indicate a negative year over year growth rate of 35.8%. The firm is scheduled to issue its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Ardmore Shipping will report full-year sales of $31.90 million for the current year, with estimates ranging from $136.00 million to $152.77 million. For the next financial year, analysts forecast that the business will report sales of $171.44 million per share, with estimates ranging from $154.50 million to $183.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Ardmore Shipping.
Ardmore Shipping (NYSE:ASC) last released its earnings results on Wednesday, February 7th. The shipping company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.03. Ardmore Shipping had a negative net margin of 6.37% and a negative return on equity of 3.16%. The company had revenue of $30.23 million for the quarter, compared to the consensus estimate of $30.24 million. During the same quarter in the previous year, the company earned ($0.11) EPS. Ardmore Shipping’s quarterly revenue was up 1.4% compared to the same quarter last year.
ASC has been the topic of a number of research reports. Stifel Nicolaus set a $9.00 target price on shares of Ardmore Shipping and gave the company a “buy” rating in a research report on Wednesday, January 24th. Seaport Global Securities set a $12.00 target price on shares of Ardmore Shipping and gave the company a “buy” rating in a research report on Thursday, January 4th. Jefferies Group initiated coverage on shares of Ardmore Shipping in a research report on Monday, December 18th. They set a “buy” rating and a $11.00 target price on the stock. JPMorgan Chase boosted their target price on shares of Ardmore Shipping from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, March 23rd. Finally, Zacks Investment Research downgraded shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $10.42.
Ardmore Shipping stock opened at $7.50 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.27 and a current ratio of 1.44. Ardmore Shipping has a 12-month low of $6.40 and a 12-month high of $9.05. The firm has a market cap of $261.89, a P/E ratio of -20.27 and a beta of 0.95.
A number of hedge funds have recently made changes to their positions in the business. Two Sigma Securities LLC bought a new stake in Ardmore Shipping during the 4th quarter valued at $203,000. Two Sigma Investments LP bought a new stake in Ardmore Shipping during the 4th quarter valued at $535,000. Deutsche Bank AG increased its stake in Ardmore Shipping by 57.2% during the 4th quarter. Deutsche Bank AG now owns 102,105 shares of the shipping company’s stock valued at $815,000 after purchasing an additional 37,135 shares in the last quarter. Jefferies Group LLC bought a new stake in Ardmore Shipping during the 4th quarter valued at $1,000,000. Finally, Silver Rock Financial LP increased its stake in Ardmore Shipping by 3.5% during the 4th quarter. Silver Rock Financial LP now owns 744,570 shares of the shipping company’s stock valued at $5,957,000 after purchasing an additional 25,206 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.
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Ardmore Shipping Company Profile
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals through product and chemical tankers worldwide. As of December 31, 2016, the company operated 27 vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
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